General Mining Corporation Limited - GMM We value GMM on a NAV basis, comprising an estimated NPV10% for Mt Cattlin, net of corporate and other adjustments. While our LT spodumene concentrate pricing assumptions have increased, medium term forecasts (2018-2019) have decreased by 20% and 10% respectively. As a result, our valuation/target price moves from A$0.95 to A$0.85.
Galaxy Resources Limited - GXY To reach our target price, we value GXY on a NAV basis comprising our NPV10% for Mt. Cattlin, our blended DCF/market-based value for Sal de Vida, and exploration, net of corporate and other adjustments.
General Mining Corporation Limited - GMM
The key investment risks for GMM include:
Funding risk
As a pre-production company with no material income, GMM is reliant on equity and debt markets to fund feasibility studies and development of various projects. We can make no assurances that accessing these markets will be done without further dilution to shareholders.
